Protecting Americans from Tax Hikes (PATH) Act Signed

Last week the House passed the Protecting Americans from Tax Hikes Act - bipartisan legislation that was then signed into law by the President on Friday. This act offers more permanent solutions for many taxpayers, extends temporary provisions and provides updated tax relief.

Highlights from the PATH Act

“Hard Cap” Dollar Limits for Contributions to Medical Plans for Michigan Public Employers

Public Act 152 limits the amount that a public employer can contribute for employee medical benefit plans. PA 152 provides that public employers may elect a “hard cap,” pay no more than 80% of the total amount of annual medical costs, or elect to exempt itself from the requirements under PA 152. For public employers that elected the “hard cap” do…

Choosing the Right Entity: C-Corporations vs. S-Corporations

A few months ago we discussed some of the benefits and drawbacks associated with forming a business as a corporation. Generally, the corporation structure is ideal for larger businesses with high numbers of shareholders or startup companies that are anticipating obtaining funding from traditional private equity sources (or possibly going public dow…

Crowdfunding in Michigan

On December 30, 2013, Governor Rick Snyder signed Public Act 264 into law (MCL 451.2202a), thereby enacting the Michigan Invests Locally Exemption Act or MILE Act. The Mile Act established an intrastate registration exemption for crowdfunding in the state of Michigan. In enacting this legislation, the legislature intended to make it easier for star…